In today’s economy, everyone does their best to save money and keep bills down. Insurance, however, may not be the best place to cut back. When it comes to car insurance, having the proper coverage could save you in the long run. Today’s blog will help you answer the question, “Do I need more than the minimum bodily injury liability?”
What Is Bodily Injury Liability Insurance?
Bodily injury liability insurance covers you if you are in an accident that seriously injures people in another vehicle. There are two figures that make up bodily injury protection – individual coverage and total coverage. Individual coverage is the maximum amount paid per injured person. Total coverage is the maximum amount paid for all injured persons in a particular accident. In Massachusetts, the minimum requirements for individual and total bodily injury liability coverage are $20,000 and $40,000.
Do I Need More Than the Minimum Bodily Injury Liability?
Medical bills can quickly add up to thousands, if not millions, of dollars depending on the severity of injuries caused by an accident. If you opt for the minimum coverage and have an accident that results in injuries exceeding the coverage amount, you may be held personally responsible for the difference. A judge may decide to garnish your wages to cover a judgement against you. To prevent this from happening, many insurance companies recommend purchasing a policy with $100,000 individual coverage and $300,000 total coverage. If you can afford to pay extra for your car insurance, bodily injury protection is where you should put that extra money.
When it comes to car insurance, asking “Do I need more than the minimum bodily injury liability?” is a great starting point when discussing your insurance needs. There are ways to save on car insurance, but bodily injury liability coverage is one area that may be worth paying more for. Talking to an independent insurance agent will help you best determine your insurance coverage needs.